Business
Shehu Sani Compares NNPC and Dangote Refinery to ‘Cain and Cain’ Over Fuel Prices
Amid ongoing debates over the pricing template for petrol, former senator Shehu Sani has drawn an intriguing comparison between Dangote Refinery and the Nigerian National Petroleum Company Limited (NNPCL).
Sani remarked that many Nigerians initially saw the relationship between the two as reminiscent of the biblical brothers Cain and Abel, where one would represent good and the other, evil.
However, he suggested that the reality has proven otherwise, with both entities resembling “Cain.”
Taking to social media platform X, Sani posted, “Most people thought that Dangote and NNPC are like Cain and Abel.
Now they found out that they are Cain Junior and Cain Senior,” implying that neither company is living up to the positive expectations of Nigerians.
This reaction comes in the wake of the NNPC’s recent release of estimated petrol prices for September 2024.
According to the state-run oil company, it is purchasing petrol from Dangote Refinery in U.S. dollars, which has significantly influenced the retail price of Premium Motor Spirit (PMS) across Nigeria.
The NNPC stated that the petrol purchased from the Dangote Refinery gantry was bought at N898.78 per litre.
With logistics costs factored in, the price of petrol in Lagos will reach an estimated N950.22 per litre.
In cities such as Abuja, Sokoto, and Kano, prices are expected to be around N999.22 per litre.
Other regions are also grappling with high pump prices. In states like Rivers, Akwa Ibom, Bayelsa, and Imo, fuel is estimated to be sold at N980 per litre.
The highest recorded price is in Borno State, where the cost of petrol is expected to soar to N1,019.22 per litre.
The rising cost of petrol has sparked widespread frustration among Nigerians, who had hoped that the opening of the Dangote Refinery would help stabilize prices.
Many had anticipated that Dangote and NNPCL would work together to alleviate the economic burden on citizens, but the continued rise in fuel prices has led to disillusionment.
Aliko Dangote speaks on his lineage and addresses not having a son as he was asked about not having a son to carry his name and achievements.
“That is not my priority because God controls everything. You can pray for God to give you a son, but he might be the one to take down the name of the family.”
Instead, he shared that he does not mind not having a son. “I don’t think a son would have done better than the three daughters I have.”
Aside from that, he was also asked about giving advice to young Nigerians. “Work hard, be consistent, focused and know what you want to do.”
It can be reported that following Aliko Dangote’s investment opportunity, some investment platforms are experiencing huge traffic, causing their platforms to become slow and go down.
Two platforms openly announced their issues. Bamboo said “Hey everyone, we’re getting a much higher than expected traffic trying to get into the Dangote IPO and it’s making it difficult for some users to log into the Bamboo app. We’re working on a fix and it will be up and running shortly.”
Cowrywise also said “We’re currently seeing more traffic than usual on the Cowrywise app. Our team is already on it and working to get things back to normal. Thanks for your patience, everyone.”
Nigerian economist Bismarck Rewane advises Nigerians financially, sharing that Nigerians should engage in the Dangote Refinery initial public offering (IPO). He stated that it was a good investment.
He shared “You are better off with your N5,000 share than selling your PVC for N10,000 or N15,000 and consuming it,” Rewane said.
“If you can get 10 million shareholders to participate in the IPO, the Dangote Refinery will have the largest number of shareholders in the world,” he said.
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